Ralph Lauren CEO: Tariffs a "Factor" But Focus is on Consumer
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Amazon Founder Jeff Bezos Loses $17 Billion Following Company's Mixed Q2 Earnings
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Jeff Bezos, the founder and Executive Chairman of Inc. (NASDAQ:AMZN), saw his net worth take a plunge, alongside the shares of his company, following its second quarter results last week. What Happened: The fourth-richest man in the world, with a net worth of $237 billion, according to the Bloomberg Billionaires Index, lost $17 billion last week on Friday, from $254 billion the prior day, after investors were unimpressed with the company's second-quarter earnings. The stock was down 8.27% on Friday, following the company's results, despite it beating consensus estimates on sales and earnings. Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — You Can Become an Investor for Just $500.25 This was largely attributed to the slowing momentum in the company's AWS cloud computing segment, which generated $10.2 billion in sales during the quarter, up 17.5% year-over-year, which fell short of consensus estimates at 20%. Amazon shares currently constitute a significant chunk of Bezos' net worth, with 884 million shares, or 8.3% of total shares outstanding, which, at the stock's current market price, is valued at $190 billion. The rest of his fortune comprises Blue Origin, his space exploration company, which, being privately held, is valued at the cost of investment. Why It Matters: According to analyst Eric Allen of Stealth, the market's reaction to the company's earnings was 'totally wrong,' since this was a capacity issue, with Amazon unable to meet the growing demand for its AWS computing resources. Amazon reported $167.7 billion in sales during the quarter, up 13% year-over-year, and ahead of consensus estimates at $161.9 billion. It posted a profit of $1.68 per share, which again beat analyst consensus estimates at $1.30. Bezos has been consistently offloading his stake in the company he founded, having sold 95 million shares in 2024 and 2025 so far, with net proceeds of $18.2 billion. Read More: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo courtesy: Shutterstock This article Amazon Founder Jeff Bezos Loses $17 Billion Following Company's Mixed Q2 Earnings originally appeared on Sign in to access your portfolio
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New marketing coordinator at Discover Kalispell steps into role
Aug. 4—For Annie Young, using professional skills to impact a community in a positive way is one of the best things about working in the marketing industry. Entering her new role as marketing communications manager of Discover Kalispell, Young looks forward to doing just that. "I'm inspired by this place, the joy it brings me personally and the opportunity to help others," Young said last week. "Seeing this team at Discover Kalispell do that day in and day out ... I'm thrilled to be a part of that." As the marketing communications manager, Young is responsible for the development and supervision of marketing and communication strategies, including working with agency partners to amplify the brand presence, continue to build out email marketing, managing the website and designing promotional products. Growing up, Young spent her childhood moving and traveling across the country as her father served in the Air Force. She attended the University of Arkansas, where she majored in journalism, advertising and public relations, and officially landed in the Flathead Valley about five years ago. Prior to moving to the valley, Young would often visit the region, enjoying the mountains and clear blue lakes. With the knowledge and experience of being a visitor to now having a local perspective, Young is uniquely positioned to amplify Discover Kalispell's voice. "I'm really excited to continue the work that's being done here and build on that. Specifically making sure Kalispell is positioned as an opportunity to experience Montana authentically," Young said. Prior to joining Discover Kalispell, Young spent 10 years as the marketing and communications director for Central Washington University Advancement, where she worked on the college's branding, design, marketing, merchandising and production. She looks forward to using the skills she's acquired over the years in a new way that works with the local business community. "The goal is to make sure we're supporting tourism in a way that supports local businesses but also preserves the way of life here," she said. Young, her husband Derek and her son Dillon live in the Flathead Valley. Her daughter, Sydney, lives in Lolo. Young officially started at Discover Kalispell at the end of June. Discover Kalispell is Kalispell's marketing organization that manages a sales and promotion strategy while working closely with the Kalispell Chamber of Commerce and the business community. A fun opportunity for visitors and residents both is the Huckleberry Treat Trail challenge through Discover Kalispell, Young said. The challenge includes a list of savory and sweet drinks and meals across the valley that includes huckleberries. Those who check in at the stops can earn points for a chance to win prizes. To learn more, visit Reporter Kate Heston may be reached at 758-4459 or kheston@ Solve the daily Crossword
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Trump tariffs don't spare his fans in EU
Hungarian Prime Minister Viktor Orban promised that the return of his "dear friend" Donald Trump as US president would usher in a new "golden age". But trade unionist Zoltan Laszlo says Hungary's auto industry has seen the opposite as the United States announced new tariffs, with order cancellations and workflow disruptions marking employees' day-to-day experience. With tariff rates rising from 2.5 percent before Trump's return to around 25 percent and finally to 15 percent, the "American tariff slalom" has caused nothing but chaos in the car industry, said Laszlo, who represents workers at Mexican automotive parts manufacturer Nemak's Hungarian plant. In recent years, Hungary and neighbouring Slovakia have become European manufacturing hubs for global car brands seeking lower labour costs, including British Jaguar Land Rover, German Mercedes and Japanese Suzuki. But due to the export-oriented nature of their automotive sectors, catering in part to the US market, they are among those EU nations hardest-hit by the latest tariffs slated to kick in on August 7. Despite hailing Trump's comeback and visiting him twice at his Mar-a-Lago luxury estate last year, Orban -- his closest EU ally -- was not spared the pain. - Distress calls - Neither were more favourable conditions extended to Slovakian Prime Minister Robert Fico, whose country is the world's largest automobile manufacturer per capita. According to analyst Matej Hornak, the incoming tariffs won't bode well. He warns of a drop in exports amounting to "several hundred million euros" and the loss of "10,000-12,000" jobs in the sector. After the announcement of the EU-US trade deal, Orban was quick to apportion blame to EU Commission president Ursula von der Leyen, saying Trump "ate" her "for breakfast". But in April, the mayor of the Hungarian city of Gyor, whose strong economic growth is closely linked to its car manufacturing plants, had already warned of possible cutbacks and layoffs. For the city, which is home to various global brands and more than a dozen different parts and component suppliers including Nemak, the fresh tariffs are a disaster. As one of the biggest employers in Hungary, German carmaker Volkswagen alone provides jobs for more than 12,000 people. Its main engine factory in Gyor produces some Audi-branded vehicles directly for the US market. The Hungarian government has said that it is still assessing the impact of the tariff rates, vowing that upcoming business deals with Washington could mitigate the negative effects of Trump's "America first" policy. - Difficult compromise - But more headwinds are ahead for Hungary and Slovakia, said Brussels-based geopolitical analyst Botond Feledy. "When it comes to European dealmaking, Trump now prioritises more geopolitically influential figures -- the main option for smaller nations such as Slovakia and Hungary is to join forces with others," he told AFP. But the "aggressive posturing" in the same vein of Trump's protectionist policies both countries adopted in recent months have isolated them among fellow EU countries, making compromises difficult, the expert added. Moreover, the stakes are high for Orban, whose 15-year rule has recently been challenged by former government insider-turned-rival Peter Magyar ahead of elections scheduled for next spring. "Dissatisfaction with the standard of living has made voters more critical, which is also reflected in the popularity ratings of the governing parties," said economist Zoltan Pogatsa, adding that "Hungary has been in a state of near stagnation for many years now". This year's economic "flying start" touted by Orban did not materialise, with the government further lowering the country's growth goal from the initial 3.4 to one percent. "So far, Trump's second presidency has only impacted the Hungarian economy through his tariff policy, which has been negative," Pogatsa added. At the Nemak plant, a recent warning strike has led to management promising to sort out the unpredictable work schedules caused by the tariff changes, which were "unhealthy and physically unbearable" and made "family and private life become incompatible with work", said Laszlo. pv-ros/kym/rl/tc
